How serious is the impact of automation on human jobs? Which jobs will be affected first? How is the automation revolution different from the industrial revolution? Business Today’s Rajeev Dubey posed these and other such questions to Paul Raleigh, Global Leader, Growth and Advisory Services, Grant Thornton. Excerpts from the interview:
Q. Where all is automation hurting?
It’s hurting people. It’s going to hurt jobs. There are some big shocks coming which we can see. Automation will provide a shock. It will provide a shock to the middle class, the professional class, which were unscathed by the previous automation in manufacturing. The changes are going to go deeper, affect more people. The real challenge at the domestic level and at the corporate level is the new skill sets, moving people from older skills to newer skills. We’ve been hearing about automation ever since we started working. Are we working less? Are we doing anything less today? Technology has always managed to bring new opportunities, but they are going to be different opportunities. The big challenge for businesses is to move people from old opportunities to the new. In that transition, there will be some big shocks. That’s the rise of nationalism and populism you see. People are nervous – what does this mean for me, for my family?
Do you see automation leading to large-scale shrinking of jobs?
I do think that we will see large job losses. Employment will shrink in certain industries. Automation will impact services in particular — legal, audit, tax. Anything that can be automated will be automated. In that way, it is a race to the bottom, and the bottom is a ROBOT. I believe there will be significant job losses. I think it will take longer to happen than is being predicted. It’s more of an 8-10 year cycle.
Any sectors where the impact will be more?
Diese Geschichte stammt aus der June 18, 2017-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 18, 2017-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more
MEDIA Juggernaut
THE JOINT VENTURE BETWEEN RELIANCE INDUSTRIES AND DISNEY CREATES AN ENTITY THAT OWNS MORE THAN 100 TV CHANNELS AND WILL HOLD A MONOPOLY ON CRICKET BROADCASTS, POSITIONING IT TO NEGOTIATE AGGRESSIVELY WITH ADVERTISERS
'Gap between haves and havenots is narrowing"
Tanvee Gupta Jain, Chief India Economist of UBS Securities India, on India's consumption story and the risks to the Indian economy
Rural Hope, Urban Fears
Industry enthused by signs of a revival in rural demand, but fresh concerns emerge over urban consumption
CRASH LANDING
The Supreme Court's order to liquidate Jet Airways, after prolonged insolvency proceedings, brings the focus back on the actual effectiveness of IBC
Indictment and its Aftermath
US prosecutors' decision to press charges against Gautam Adani and others in a case of alleged bribery could hit the group's ambitious expansion plans
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.